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Home  Random Extras Entities settle price-fixing allegations by paying $15.4 million
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Entities settle price-fixing allegations by paying $15.4 million |
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Written by Zamna Avila
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Wednesday, 10 March 2010 |
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Swedish manufacturer Trelleborg AB, which produces a marine fenders and marine hoses, and 13 other corporations and individuals paid more than $15 million the to the federal government to resolve civil allegations that they fraudulently over-billed the Navy and other federal agencies by bid-rigging and price-fixing on sales of materials used on piers and other marine construction projects.
The companies are part of settlements that resolve allegations contained in a
2005"whistle-blower" lawsuit filed in May 2005 by Douglas Farrow, an executive at a Trelleborg competitor. under seal in. The government investigated Mr. Farrow's civil allegations, elected to intervene in the lawsuit and negotiated the settlement. Mr. Farrow will receive between 15 percent and 25 percent of the recovery.
The lawsuit alleged that Trelleborg AB and four of its subsidiaries conspired to submit rigged bids, fix prices and allocate market shares on marine fenders and plastic pilings purchased by the Navy and other federal departments and agencies. The lawsuit alleged the conspiracy ran from about June 2000 to August 2005.
Mr. Farrow filed his lawsuit on the behalf of the United States, the Justice Department's Antitrust Division commenced a parallel criminal investigation of the marine products industry, which has resulted in criminal convictions of about 24 corporations and individuals. Trelleborg AB subsidiaries Virginia Harbor Services Inc. and Trelleborg Industries S.A.S. each pleaded guilty to felony antitrust charges and were sentenced to pay criminal fines of $7.5 million and $3.5 million, respectively.
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